Inland Marine, Policy and Theft - Insurance Industry Brief

Insuring Collectibles in New York

Distinguished

FEBRUARY 10, 2025

Whats Covered The policy covers a wide range of risks for direct physical damage, including fire and theft, under an all-risk policy structure with broad coverage. It covers fine art, sports cards, handbags, and other collections, up to $125 million on a single risk as the primary or excess layer or on a quota-share basis.

Broker-Agent

Broker-Agent Insurance Insured Insurer

Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

Distinguished

OCTOBER 15, 2024

One common question is whether the contractor and the property owner can be named insureds on the same Builder’s Risk policy. The answer lies in both parties’ financial interest in the property and how that impacts the insurance policy’s structure. Property owners may also choose to add Premises Liability coverage to the policy.

Policy

Policy Risk Broker-Agent Liability

Does Builder’s Risk Coverage Differ for Residential vs. Commercial Construction Projects?

Distinguished

OCTOBER 30, 2024

While Builder’s Risk policies for both types of projects offer similar coverage, such as insuring for damage to the structure from fire, theft, and other covered perils, there are important distinctions between residential and commercial coverage. We offer 3-, 6-, 9-, or 12-month policies, with extensions available upon review.

Commercial

Commercial Risk Broker-Agent Inland Marine

Builder’s Risk Insurance in Tennessee: A Broker’s Guide

Distinguished

SEPTEMBER 25, 2024

Job sites that are under construction are prone to things like fire, theft, and vandalism. Different Builder’s Risk insurance policies vary from one insurance carrier to another.  Theft : Covers the cost of replacing covered items that were stolen from the job site. Who Should be Named in a Builder’s Risk Policy?

Risk

Risk Broker-Agent Insurance Insured

Protecting Fine Art, Collectibles in California

Distinguished

DECEMBER 16, 2024

Unlike competitors retreating from the market due to aggregation risks, our Fine Art and Collectibles insurance program brings fresh capacity and a willingness to underwrite policies tailored to Californias unique challenges. Many carriers encourage clients to insure their collections with specific Fine Art and Collectibles policies.

Protection

Protection Broker-Agent Inland Marine Underwriter

Does Homeowners Insurance Cover Collectibles?

Distinguished

JULY 22, 2024

Theft, damage during transport, or accidental breakage can devastate a collection that has taken years to assemble. Unfortunately, these unique risks are rarely appropriately covered by standard homeowner insurance policies. For most, this will mean a collectibles policy.

Insurance

Insurance Insured Insurer Policy

The Role of Appraisals in Fine Art Insurance

Distinguished

JULY 29, 2024

A client’s fine art collection may represent their treasured possessions or important investments and requires specialized insurance to protect against losses caused by water, fire, vandalism, theft, transit, and natural disasters. Types of Valuations Insurance policies can be written on an agreed value/scheduled or blanket basis.

Broker-Agent

Broker-Agent Insurance Insured Insurer

Builder’s Risk Insurance in Michigan: Online Quotes, Coverages, and Costs

Distinguished

AUGUST 26, 2024

Under-construction buildings can be prone to fire, vandalism, and theft, which can end up costing their backers and owners millions. However, a general rule of thumb for Builder’s Risk is to expect a policy to cost anywhere from 1-5% of the total project cost. Who Needs to be Insured by a Builder’s Risk Policy?

Risk

Risk Broker-Agent Insurance Insured

What are the most important questions to ask when choosing business insurance?

Protect Commercial Insurance

OCTOBER 25, 2024

Introduction When it comes to safeguarding your business, selecting the right insurance policy is crucial. It can be quite a daunting task with so many options out there, and understanding each policy’s intricacies is essential for your peace of mind and financial wellbeing. Every industry comes with its own set of risks.

Business Insurance

Business Insurance Liability Insurance Liability Policy

Builder’s Risk Insurance Declinations: An Interview With Susan DeCarlo

Distinguished

SEPTEMBER 17, 2024

We can consider weather related claims, but claims of theft, vandalism, and fire, for example, would be an automatic decline. If we are comfortable with our exposure, we may consider increasing the AOP deductible and the theft deductible , depending on the underwriting analysis. And in those cases, it would be a declination.

Risk

Risk Broker-Agent Deductible Insurance

Rare Toy Insurance: A Guide for Collectors and Brokers

Distinguished

AUGUST 5, 2024

However, if your clients have been lucky enough to come across a rare Illustrator Pikachu Card ( worth over $550,000 ) or a vintage Boba Fett toy ( worth over $500,000 ), they’re going to need an insurance policy that properly covers them. This means a specialized collectibles policy. How Do You Insure a Toy Collection?

Broker

Broker Insurance Insured Insurer

Public Art Insurance: Safeguarding Publicly Owned Art and Collectibles

Distinguished

DECEMBER 2, 2024

Public art insurance is a specialized insurance policy designed to provide coverage to all artwork or valuable collectibles owned or loaned to a public institution.  For instance, a city could take out a public art insurance policy that would cover any artwork, historical artifacts, or even outdoor sculptures owned by that city.

Deductible

Deductible Insurance Insured Insurer

High-Capacity Limits Address Collections of Museums, Corporate Clients, and High-Net-Worth Individuals

Distinguished

JANUARY 7, 2025

The Fine Art & Collectibles program can cover items for a loss caused by a wide range of events and perils, such as accidental breakage and damage, including during transit; water damage; theft, vandalism and malicious mischief; fire and smoke; and natural disasters.

Broker-Agent

Broker-Agent Inland Marine Damage Broker

Builder’s Risk Insurance in Alabama: A Broker’s Guide

Distinguished

SEPTEMBER 10, 2024

Who Needs to be Insured by a Builder’s Risk Policy in Alabama? For a Builder’s Risk policy anywhere in the United States, it’s important everyone with a financial stake in the project be named in the policy. Cost of the project : The larger the project’s TIV, the more expensive a policy will be.  

Risk

Risk General Liability Broker-Agent Insurance

Insurance Industry Brief

Insuring Collectibles in New York

Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

Trending Sources

Does Builder’s Risk Coverage Differ for Residential vs. Commercial Construction Projects?

Builder’s Risk Insurance in Tennessee: A Broker’s Guide

Protecting Fine Art, Collectibles in California

Does Homeowners Insurance Cover Collectibles?

The Role of Appraisals in Fine Art Insurance

Builder’s Risk Insurance in Michigan: Online Quotes, Coverages, and Costs

What are the most important questions to ask when choosing business insurance?

Builder’s Risk Insurance Declinations: An Interview With Susan DeCarlo

Rare Toy Insurance: A Guide for Collectors and Brokers

Public Art Insurance: Safeguarding Publicly Owned Art and Collectibles

High-Capacity Limits Address Collections of Museums, Corporate Clients, and High-Net-Worth Individuals

Builder’s Risk Insurance in Alabama: A Broker’s Guide

Stay Connected